Gladstone Capital (NASDAQ:GLAD) Sets New 52-Week High – Time to Buy?

Gladstone Capital Co. (NASDAQ:GLAD)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.89 and last traded at $28.89, with a volume of 1988 shares traded. The stock had previously closed at $27.38.

Analyst Upgrades and Downgrades

Separately, B. Riley assumed coverage on shares of Gladstone Capital in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $23.00 price objective on the stock.

Gladstone Capital Stock Performance

The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $610.06 million, a PE ratio of 7.19 and a beta of 1.27. The stock’s 50 day moving average price is $26.01 and its two-hundred day moving average price is $24.24.

Gladstone Capital Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.40 per share. This is an increase from Gladstone Capital’s previous dividend of $0.17. The ex-dividend date of this dividend was Wednesday, December 4th. Gladstone Capital’s dividend payout ratio (DPR) is presently 52.11%.

Insider Transactions at Gladstone Capital

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total transaction of $423,925.00. Following the sale, the president now directly owns 248,210 shares of the company’s stock, valued at $6,788,543.50. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.08% of the company’s stock.

Hedge Funds Weigh In On Gladstone Capital

Several institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp acquired a new position in Gladstone Capital in the 3rd quarter valued at $12,287,000. International Assets Investment Management LLC lifted its position in Gladstone Capital by 2,305.0% during the third quarter. International Assets Investment Management LLC now owns 384,535 shares of the investment management company’s stock worth $9,248,000 after buying an additional 368,546 shares during the period. D.A. Davidson & CO. boosted its stake in Gladstone Capital by 8.7% in the 3rd quarter. D.A. Davidson & CO. now owns 111,569 shares of the investment management company’s stock worth $2,683,000 after buying an additional 8,891 shares during the last quarter. Legacy Capital Wealth Partners LLC purchased a new stake in Gladstone Capital in the 2nd quarter valued at about $1,723,000. Finally, TrueMark Investments LLC acquired a new position in shares of Gladstone Capital during the 2nd quarter valued at about $1,451,000. Hedge funds and other institutional investors own 10.72% of the company’s stock.

About Gladstone Capital

Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien term loans, senior subordinated loans, unitranche loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.